Poland among best economies dealing with COVID-19: ‘The Economist’

The British weekly “The Economist” placed Poland in sixth place in the ranking of countries whose economies have dealt best with the COVID-19 pandemic. The criteria taken into account are: GDP growth, household income, the condition of the stock exchange, investment expenditure and state debt.

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The weekly explains that the first indicator it took into account was the change in GDP since the end of 2019. This criteria gives an overall idea of “economic health”. It stated that, countries whose economy is not largely based on tourism, and was therefore not exposed to travel bans related to the pandemic, fared better.

“The Economist” then analysed household incomes to point how families dealt with the crisis, reflecting wages and government financial aid.

Stock market results helped examine the condition of capital markets.

Investment expenditures - the fourth measure taken into account by “The Economist” - indicated the optimism scale with which businesses view the country’s future.

The last indicator was state debt, which could mean a possible future increase in taxes and a reduction in spending.

“The Economist” analysed economic data from 23 countries to compile the ranking. Poland’s GDP in the selected period increased by 3.1 percent, income per capita increased by 3.3 percent, stock exchange quotations increased by 25.4 percent, investment spending fell by 7.1 percent and the state debt reached 5 percent GDP.

Countries that fared the worst in “The Economist” ranking were Japan with a GDP decline of 1.9 percent, the UK with a GDP decline of 2.1 percent and Spain with a GDP decline of 6.6 percent.